FedEx fast-track leadership changes
Having the right people at the top of a business can make sure that it’s steered in the right direction, that employees are inspired and motivated, and re-assure shareholders and their market. And, FedEx has decided to solidify and speed up changes in their leadership structure.
The globally recognisable shipping, logistics and delivery company have sped up their leadership changes, as David Bronczek takes over as president from Frederick W. Smith. Smith will remain as chairman and chief executive officer of the American business.
Bronczek will step into his new role as of 01 February 2017, which is eleven months sooner than FedEx had previously announced in a statement in September. The company has stated that ‘better than expected progress in intergrating European acquisition TNT Express’
More of the same?
FedEx share price over the last ten years, as of 24 January 2017: 189.52
SOURCE: Yahoo Finance
Smith said in a statement: “While this was announced last September, substantial progress in integrating the TNT acquisition into FedEx Express now allows us to accelerate Dave’s promotion by 11 months in advance of Fiscal Year 2018.
“He is uniquely qualified to take on the position of President and Chief Operating Officer. Under Dave’s leadership for the past 17 years, the FedEx Express team has achieved outstanding financial results and service levels.”
It would seem that Bronczek, who is currently 62 years old, is being lined up as the potential successor to Smith, who is now 72, but the legendary founder of FedEx does not seem to want to retire any time soon.
Bronczek has had a long career so far at FedEx, having joined them in 1976 as a Kent State University graduate in 1976. He then quickly rose through the ranks in their pick up and delivery operations area, becoming managing director of operations in 1983. He has been president and chief executive of FedEx Express since 2000.
Dominion holds FedEx in its Global Trends Managed Fund.
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